Sarahjon Reilly

Zharta has adopted the Chainlink data standard to power its RWA lending markets. By leveraging Chainlink Price Feeds, @Zharta enables reliable collateral & LTV calculations to secure lending markets around RWAs, BTC, and ETH. Chainlink 🤝 Real-world assets

@realpeteyb123 @RobertKennedyJr I texted your post to RFK. I am sure he is going to see it. It sounds like you deserve a pardon.

It has been almost six years since I started building Euler. It has been a demanding journey, requiring an extraordinary amount of tenacity, resilience and determination, with real highs (and a few notable lows) along the way. It is a journey that has shaped me both professionally and personally, and as startup journeys go, it has been a complete and formative experience. Last year we achieved something many people told us was impossible. We brought the project back to life and grew to over $4bn in total deposits in under a year. That outcome came from an extraordinary amount of determination and hard work, and from a willingness to experiment and push boundaries. Some things worked very well, others less so. In hindsight, I do not think the fully permissionless vision that Doug and I set out to build in 2020, at least in its pure form, ultimately found strong product market fit. That does not diminish the work or the ambition behind it, but it does point clearly to the need for a change in direction and a fresh vision. Where Euler truly shines is in its flexibility. The protocol is exceptionally well suited to building bespoke credit markets for novel use cases, particularly when combined with high quality asset managers and thoughtful risk curation. As Euler matures, it feels like the right time to make a focused bet on this strength. Leveraging the protocol to support tailored markets that meet the needs of fintech and institutional participants is a natural next chapter, and one for which many aspects of Euler’s design are uniquely well suited. I remain deeply optimistic about Euler’s future, especially around RWAs. As one of the folks collaborating with us this year recently put it: “Looking forward to an amazing launch next year. Euler is super far ahead of all the competition re RWAs, so it will be a fantastic year ahead.” Over the past few months I have spent a great deal of time reflecting on what the next phase should look like, both for the project and for me personally. It has become clear that Euler is ready for change, and I do not want to stand in the way of that momentum. With that in mind, I plan to step back from the day-to-day CEO role and move into a more advisory and product-focused position. This creates space for the next phase of leadership, while allowing me to stay close to the technology and help shape what comes next. I am highly optimistic about the future of DeFi and confident in Euler’s ability to play a defining role in it. Jonathan Han (@0xJHan) will take on the CEO role. Jonathan brings deep institutional experience, strong operational judgement, and a clear understanding of the kinds of partnerships and structures that matter as Euler focuses more heavily on institutional and fintech markets. Our CTO, Kasper Pawlowski, will continue in his role, ensuring continuity across the protocol’s architecture and technical direction. They are both exceptionally talented individuals, and I have a great deal of confidence in them to lead Euler through its next phase. Perhaps reflective of the mine and Doug’s technical backgrounds, Euler has always been an innovation led project. And what we have built together is the part of the role I always enjoyed the most and I am most proud of. Over the years we originated or anticipated many mechanisms that later became mainstream across DeFi, including health based liquidations, reactive interest rates, risk curated isolated markets, fee flow auctions, credit based market making, and account level abstractions, among many others. Even during our most difficult periods, we never stopped building. There remains a significant body of work that has not yet been shipped, including novel fixed rate and cyclical rate products and new approaches to synthetic assets, much of which will reach the market later this year. I also want to pay tribute to the team. Euler has always been a special place to work, with a culture that encouraged people to challenge one another and push for excellence. I am incredibly proud of what we built together and grateful to everyone I have worked with over the years. I want to thank the Euler community and our investors for the trust and support they have shown, and to acknowledge the broader community of builders, collaborators, and partners who helped shape the project. I also want to give a nod to our competitors as well. It was genuinely fun being in the arena together. I will always be team Euler. As far as I am concerned, it remains one of the best pieces of technology in the space with one of the best teams behind it. The best of @eulerfinance is still ahead of us.